PepsiCo India’s revenue grew in double digits during the first two months of the year, said Indra Nooyi, the cola major’s global chairperson and chief executive officer, in an investor call on Thursday. The performance follows a mid-single digit volume growth during the period between September and December 2017.
PepsiCo’s sales numbers, in line with rival Coca-Cola, indicate a recovery in consumer sentiment after a lull, when the sales of the cola drinks suffered heavily in the country. In February, Nooyi had indicated the green shoots are in the horizon as the consumer market was recovering fast from the glitches after implementation of the goods and services tax in July last year.
PepsiCo shifted focus towards non-carbonated beverages and healthier offerings like Quaker oats, tonic water, and hydration drinks as cola sales took a hit. Its snacks business, which accounts for over 45 per cent of its sales and continued to add to its bottom line in India, is also been revamped. “
“We want to do better top line growth; there are headwinds like retail disruption. Consumers are health conscious, not consuming as much they used to. There are big brands that are not doing well, while some smaller brands are doing good business,” Nooyi had said in February.